Algert Global LLC Invests $479,000 in MYR Group Inc (MYRG)

Algert Global LLC bought a new stake in MYR Group Inc (NASDAQ:MYRG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,416 shares of the utilities provider’s stock, valued at approximately $479,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of MYR Group by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 910,518 shares of the utilities provider’s stock valued at $28,245,000 after purchasing an additional 33,997 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of MYR Group by 14.2% in the 3rd quarter. Macquarie Group Ltd. now owns 864,492 shares of the utilities provider’s stock valued at $25,191,000 after purchasing an additional 107,417 shares in the last quarter. Investment Counselors of Maryland LLC raised its position in shares of MYR Group by 7.4% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 659,226 shares of the utilities provider’s stock valued at $19,210,000 after purchasing an additional 45,660 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its holdings in shares of MYR Group by 13.8% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 344,357 shares of the utilities provider’s stock valued at $12,303,000 after acquiring an additional 41,659 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of MYR Group by 0.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 174,415 shares of the utilities provider’s stock valued at $5,410,000 after acquiring an additional 1,537 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors.

MYRG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Wednesday, January 3rd. TheStreet upgraded MYR Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. BidaskClub downgraded MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Robert W. Baird boosted their price target on MYR Group from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Finally, B. Riley boosted their price target on MYR Group from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.83.

Shares of MYR Group Inc (NASDAQ:MYRG) opened at $32.31 on Tuesday. The firm has a market capitalization of $550.98, a P/E ratio of 34.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84. MYR Group Inc has a twelve month low of $23.00 and a twelve month high of $43.77.

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MYR Group Company Profile

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

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